This invention relates to commodity trading systems and automated purchasing and selling systems.
The process of purchasing and selling commodities traditionally involves brokers and traders who determine the price and availability of commodities from a supplier and who negotiate with buyers of the commodity to have a desired commodity delivered at a higher price. Traditional methods involve determining the market price for a commodity when purchased in the quantity desired by the buyer, and then supplying that commodity in that quantity plus a commission paid by the buyer or with a discount paid by the supplier. Commodities are also bought and sold between a producer and an end user on a principal to principal basis.
Computer systems for buying and selling commodities are conventionally used, but such conventional systems implement transactions wherein a commodity is purchased and sold at a market price.